New manager at bank-owned Bath club
Savings Bank of Maine has appointed a new manager at the Bath Country Club, which the bank foreclosed on in April.
Renee Smyth, who works for an asset management group that is a subsidiary of the bank, is now running the country club, according to The Times Record. Former owners and managers Shawn Arsenault and Jason Marco, who owned it from 2006 until this spring and were kept on to manage it under bank ownership, have been let go. Arsenault and Marco had been working to find investors to buy the golf club back from the bank, but Smyth told the paper the bank was looking for new management and plans to open and run the golf club next season.
The Gardiner-based bank bought the Bath Country Club for $1.95 million after an auction produced no bidders, and planned to sell it on the open market. However, in May, a trustee appointed by the bank told the paper that Savings Bank was investing $50,000 into facility improvements and planned to sell it back to Arsenault and Marco.
Go to the article from The Times Record >>
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